If I factor in a new roof, the rental doesn’t even chop even for me when it comes to expenses plus upkeep
I have noticed that you can’t just keep a roof forever plus expect insurance to cover your home… I own two rental properties plus the topic of roofs keeps coming up, but apparently if a roof is over 10 years old, you start getting problems from the insurance companies. I had to call all over plus talk to unusual insurance providers in my state. I got many roofers to take a look at my rental condo roof. The women all agreed the roof was good. I did have one roofing contractor that tried to sell me a roof, however she did disclose it was in great shape. Anyway, I had them inspect the spray foam roof plus tell me all was good. I had at least another ten years on it. It took a lot of messing around to find an insurance contractor that would give me a break. A new roof isn’t exactly cheap. It is also quite invasive, then not only would I be out the cost of a new roof, but I couldn’t rent my component while the building was going on. I would be losing a lot of cash on roofing when I don’t even need it. I refuse to pay for something I don’t need, especially when it is so extravagant. My rental doesn’t make that much cash per year. If I factor in a new roof, the rental doesn’t even chop even for me when it comes to expenses plus upkeep. I have thought about getting rid of my units because of roofing related insurance issues.